Business & Finance: Central Leather

Probably the most funereal note struck in the business world lately was the Central Leather Co. statement. Operations during the calendar year of 1923 showed an unexpectedly heavy defict of $7,272,243, compared with a surplus of $1,528,209 in 1922. But in 1920 a deficit of $25,751,666 occurred, followed by another of $11,651,425 in 1921, so that the Company's profit and loss deficit Dec. 31, 1923, was $12,637,851. Last year, operations did not even cover expenses, and interest on bonds was paid out of surplus. Common and preferred dividends have been passed since 1920....

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